Bangkok: As it looks to fund more than $20bn in oil and gas projects in the coming five years PTT Exploration & Production (PTTEP) is mulling the sale of perpetual dollar bonds in the second half of this year. It would become the first non-financial Thai company to sell perpetual bonds.
PTTEP raised around $3bn last month in Thailand’s largest equity offering to finance its purchase of Cove Energy, which gave it a stake in East African assets. The company plans to double production to 600,000 barrels of oil equivalent a day by 2020 with existing projects in Australia, East Africa, North America and Southeast Asia. Including acquisitions, it aims to boost total daily output to 900,000 barrels by 2020. [21/01/13]